Posted under Money and Finance
from 1827 days ago

I don’t think there’s any question that small business credit is a little harder to come by today than it was four or five years ago. Cash for expansion, working capital or purchasing new equipment is critical for Main Street businesses to succeed, but commercial lending of less than $1 million has fallen by more than 14 percent since 2008 according to Deborah Cohen, writing for Reuters. Although this discouraging statistic published by the Federal Deposit Insurance Corp doesn’t sound too good, there is money available for small businesses.

“Meanwhile,” writes Cohen, “credit union business lending jumped 22 percent from 2008 through the end of 2011 to $39.1 billion, according to the National Credit Union Administration, which regulates credit unions.”

Finding a loan for most small business owners today is no longer limited to their local community bank. Borrowers are looking online and exploring other avenues ...


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